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Daily Dispatches
No inflation? U.S. Mint would ban melting pennies, nickels
Submitted by cpowell on Thu, 2006-12-14 01:16 Section: Daily DispatchesU.S. Mint Bans
Melting Pennies, Nickels
By Matin Crutsinger
Associated Press
Thursday, December 14, 2006
http://news.yahoo.com/s/ap/20061214/ap_on_bi_ge/mint_coins
Given rising metal prices, the pennies and nickels in your pocket are worth more melted down than their face value -- and that has the government worried.
U.S. Mint officials said Wednesday they were putting into place rules prohibiting the melting down of 1-cent and 5-cent coins. The rules also limit the number of coins that can be shipped out of the country.
Secrecy of central bank gold lending condemned in new study
Submitted by cpowell on Wed, 2006-12-13 21:45 Section: Daily Dispatches9:37p ET Wednesday, December 13, 2006
Dear Friend of GATA and Gold:
Lending of gold by central banks depresses the price and the only possible reasons for the secrecy around it are manipulation of the gold market and the enrichment, through inside information, of the financial houses to which central banks lend their gold, a study by New Orleans coin and bullion dealer Blanchard & Co. has found.
Jeffrey Saut: Our unnatural makets and the mysterious buyers from Mars
Submitted by cpowell on Wed, 2006-12-13 20:15 Section: Daily DispatchesBy Jeffrey Saut
Chief Investment Strategist
Raymond James Financial Inc.
Monday, December 11, 2006
http://www.raymondjames.com/inv_strat.htm
Well, it finally happened. Last week one of my own gang called me Doctor Doom. I guess it was inevitable because in this business if you are not forecasting Dow 20,000 you are deemed a bear. However, the veiled reference to Doctor Doom and Doctor Gloom of an era gone by is not exactly appropriate. Indeed, the dynamic duo of Dr. Henry Kaufman (Doctor Doom) and Dr. Albert Wojnilower (Doctor Gloom) were the market gurus of the day in the 1970s and were predicting the end of the economic world as we knew it. Clearly that has not been our mantra, as anyone reading these missives since 1999 knows.
Inflation is four times higher than CPI, U.S. economist says
Submitted by cpowell on Wed, 2006-12-13 14:14 Section: Daily DispatchesGold's Rise Points to Inflation;
Actual Rate Much Higher
Than CPI, U.S. Economist Says
By Jonathan Chevreau
Financial Post / National Post, Toronto
Wednesday, December 13, 2006
http://www.canada.com/nationalpost/columnists/story.html?id=2f254b6d-c44...
The real annual inflation rate is closer to 8% than the 2% or 3% governments claim, a prominent U.S. economist said yesterday.
Canadian gold stock index replaced with a global one
Submitted by cpowell on Wed, 2006-12-13 12:05 Section: Daily DispatchesGold Index Takes Global Turn,
but Canadian Names Dominate
New S&P Vehicle More Inviting
to Investors Seeking Commodity Play
By David Parkinson
The Globe and Mail, Toronto
Wednesday, December 13, 2006
http://www.theglobeandmail.com/servlet/story/LAC.20061213.RGOLD13/TPStor...
Farewell, S&P/TSX capped gold index. Hello, world.
After the end of trading this Friday, Standard & Poor's, the Toronto Stock Exchange's index provider, will no longer publish its separate subindex of the Canadian gold mining stocks contained in the S&P/TSX composite index. In its place Monday morning will be the S&P/TSX global gold index, which will exist outside of the composite and will be made up not just of Canadian gold stocks, but of all the world's biggest publicly traded gold miners.
Government appeals order to redesign currency for blind
Submitted by cpowell on Tue, 2006-12-12 22:12 Section: Daily DispatchesToo many people see it everywhere already!
* * *
By The Associated Press
Tuesday, December 12, 2006
http://news.yahoo.com/s/ap/20061212/ap_on_go_pr_wh/blind_money
The Bush administration on Tuesday asked an appeals court to overturn a ruling that could require a redesign of the nation's currency to help the blind.
Justice Department lawyers filed the appeal with the U.S. Court of Appeals for the District of Columbia Circuit on behalf of Treasury Secretary Henry Paulson.
MorganChase buys protection against SEC actions
Submitted by cpowell on Tue, 2006-12-12 22:02 Section: Daily DispatchesJ.P. Morgan Names Cutler Counsel
By Peter Lattman
The Wall Street Journal
Wednesday, December 13, 2006
Stephen M. Cutler, a partner at Wilmer Cutler Pickering Hale & Dorr LLP and a former enforcement chief at the Securities and Exchange Commission, was named general counsel for J.P. Morgan Chase & Co.
Mr. Cutler, who plans to join the company in February, will also head the bank's legal and compliance activities worldwide. He succeeds Joan Guggenheimer, who died this year.
Barrick open to acquiring more gold and copper assets
Submitted by cpowell on Tue, 2006-12-12 21:25 Section: Daily DispatchesGod knows Barrick is short enough of both....
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Barrick CFO Sees a Lot More Upside to Gold Price
From Reuters
Tuesday, December 12, 2006
http://ca.news.yahoo.com/s/reuters/061212/business/business_barrick_cfo_...
TORONTO -- Barrick Gold Corp.'s chief financial officer said on Tuesday that the fundamentals for the price of gold remain strong.
"I think we've got a lot more upside on the gold price. I certainly can see the highs that we had earlier this year being taken out," said Jamie Sokalsky in an interview.
Al Jazeera joins ROB-TV in exposing the gold price suppression scheme
Submitted by cpowell on Tue, 2006-12-12 21:02 Section: Daily Dispatches8:45p ET Tuesday, December 12, 2006
Dear Friend of GATA and Gold:
Al Jazeera, the international news organization based in Qatar and owned by the emir of that Arabian Gulf country (an ally of the United States recently visited by your secretary/treasurer in another capacity), has just joined Canada's Report on Business Television in what might as well be called Radio (and Television) Free America.
Having the U.S. government as a subsidiary is good business
Submitted by cpowell on Tue, 2006-12-12 08:52 Section: Daily DispatchesGoldman Sachs 4th-Quarter Profit Doubles
From The Associated Press
Tuesday, December 12, 2006
http://biz.yahoo.com/ap/061212/goldman_earns.html?.v=1
NEW YORK -- Goldman Sachs Group Inc., the biggest investment bank on Wall Street, reported fourth-quarter profit doubled from last year on record takeover activity and robust stock market trading.The company reported a profit of $3.15 billion, or $6.59 per share, compared with $1.63 billion, or $3.35 per share, in the year-ago period. Revenue soared to $9.41 billion, up from $6.4 billion last year.
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